Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.071%

Price spread now: Aevo against BloFin−0.230%53s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1811.813% of the position

Long on BloFin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.470%−$47 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.230%, 7d avg −0.028%

Together, before fees−0.328%−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aevo is 0.203% cheaper against BloFin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.028%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.009113	0.0340	pay 0.0170% / 4h	1h 55m	$1.6M	$4.9M	75x
Short	Aevo PENGU-PERP	0.009092	0.0104	get 0.0013% / 1h	55m 50s	$210K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee AevobpOrdersPrice spread, now −0.230%Rate

Funding earned: −$49.56
Price spread: −0.230% → −0.028%: −$20.28
Slippage, 4 orders: −$153.25
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$251.09
Costs to cover: 1.813%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Aevo: live order book, 53 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 3 min ago	2.19 bp	8.2 bp −$8	10.7 bp −$107	37.3 bp −$3,727	doesn't fit
Sell Aevo live order book, 53 min ago	68.10 bp	76.1 bp −$76	doesn't fit	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009092	−0.228%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.555%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009100	−0.143%	$334K	$758K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009095	−0.195%	$640K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009092	−0.227%	$121K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009096	−0.187%	$139K	$289K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009098	−0.165%	$39.6M	$185.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009087	−0.285%	$24.1M	$43.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009093	−0.219%	$8.1M	$54.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009100	−0.143%	$18K	$26K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009097	−0.176%	$3.4M	$16.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009101	−0.132%	$11.1M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009099	−0.154%	$5.3M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009099	−0.154%	$8.7M	$13.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009087	−0.285%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009095	−0.198%	$313K	$376K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009082	−0.341%	$927K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009084	−0.317%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009082	−0.340%	$82K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009097	−0.176%	$23K	$195K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009310	+2.162%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009093	−0.219%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009106	−0.077%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009094	−0.212%	$188K	$841K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.009092	−0.230%	$210K	—	3x
Reya PENGURUSDPERP	+0.0240%	1h	0.009095	−0.201%	$307	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0300%	1h	0.009100	−0.143%	$1K	$29K	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.009113	long leg	$1.6M	$4.9M	75x
01 Exchange PENGUUSD	+0.0384%	1h	0.009102	−0.121%	$208	$64	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0391% / S −0.0291%	1h	0.009091	−0.241%	$92K	—	100x	as long as short
dYdX PENGU-USD	+0.0506%	1h	0.009095	−0.196%	$12K	$6K	5x	as long as short
Hyperliquid PENGU	+0.0620%	1h	0.009110	−0.033%	$9.4M	$15.9M	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0670%	1h	0.009102	−0.119%	$340K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009185	+0.790%	$81K	$69K	50x	as long as short